This Week in Finance: Bye-bye Binance, Paper cashes in on tutoring and more big deals
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Paper gets $100M worth of venture-backed paper for B2B edtech – TechCrunch
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Education Company Paper Seeks to Close the Public School
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May 24 (Reuters) - Riiid Inc, a South Korean AI tutorial
startup, on Monday said it raised $175 million from SoftBank
Group Corp s Vision Fund 2 as it looks to shake up the
world of standardized testing, and take its technology to public
schools.
Venture capital s funding of education tech surged with the
pandemic to $16.1 billion globally in 2020, up from $7 billion
in 2019, according to research firm HolonIQ. The bulk of this
funding has been for services consumers have to pay for such as
Chinese online tutorial service Zuoyebang, which raised over
$1.6 billion late last year.
Startups targeting public schools, especially in the United